NH NongHyup Bank said on Thursday it has set up the Head Office Sales 1 Department at its NH Finance Tower in Jongno-gu, Seoul, and will expand its corporate finance specialist centers.

The organisational expansion is aimed at strengthening financial support for key parts of the real economy, including advanced strategic industries, region-specialised industries, and start-ups and venture companies. It focuses on building a financial support system tailored to corporate growth stages to expand productive finance.

NH NongHyup Bank plans to supply a total of 76.8 trillion won over the next five years. This includes 1.2 trillion won in venture capital, 63.5 trillion won in investment and lending, 11.6 trillion won in inclusive finance and 500.0 billion won for the National Growth Fund.

It also plans to expand its corporate finance specialist centers in Pangyo and Songdo that support the IT and semiconductor, and pharmaceutical and biotech industries, to strengthen industry-tailored financial support.

NH NongHyup Bank CEO Tae-young Kang (강태영) said, "Expanding the corporate finance specialist centers is about building a base for executing productive finance to foster future growth industries and innovative companies." He added, "We will continue to expand productive finance that contributes to revitalising the national economy through proactive financial support."